Dubai Chamber announces formation of Automotive Manufacturers Business Group … reports Asian Lite News.
The Dubai Chamber of Commerce and Industry has announced the formation of the Automotive Manufacturers Business Group, which will be tasked with developing and advancing Dubai’s automotive industry.
The organisation is the 28th sector-specific business group established under the umbrella of Dubai Chamber. By supporting the business group, the Chamber aims to protect the interests of automotive companies in Dubai, and provide a platform for industry stakeholders to collaborate.
Other objectives of the Group, include establishing an open dialogue between manufacturers and authorities, assisting government entities with certification and regulation, and unifying industry standards.
Hamad Buamim, President and CEO of Dubai Chamber, described the formation of the new business group a positive development as it enhances the competitiveness of Dubai’s private sector. He noted that the group would help the Chamber improve the quality of services provided to companies operating with the automotive industry.
He stressed the important role of business groups in supporting Dubai’s economic growth and development, and explained that these organisations provide an ideal platform for industry stakeholders to align their efforts and address important business matters.
Deesch Papke, Chairman of the Automotive Manufacturers Business Group, said, “With the formation of the inaugural Automotive Manufacturers Business Group for the Middle East, we expect a new level of collaboration between auto manufacturers and governmental agencies that will provide the intelligence and support to help propel the Middle East automotive sector to new heights.”
The UAE is forecast to see 4 percent year-on-year growth in vehicles sales in 2018, while the size of the country’s automotive market is set to increase by 35 percent between 2017 and 2021, according to estimates from Dubai Chamber based on BMI Research data.
Dubai Chamber has established 49 country-specific business councils and 28 sector-specific business groups under its umbrella, which reflect the diversity in the emirate’s business community.